The Revolving Loan Fund (RLF) is designed to assist small businesses in the City of Waynesboro with a short term, low interest loan. The loan can be used for a variety of purposes, including, but not limited to:
The loan fund has been established by a grant from the USDA Rural Development and is designed to assist small businesses in the City of Waynesboro. The fund is administered by a committee compiled of members of the EDA and area business owners.
You may apply for a loan of up to $15,000, for a maximum of 3 years. The interest rate is Prime less .25% (currently 3%). Repayment is made monthly based on a straight amortization schedule.
To apply, complete the application form and return it with required documents to the EDA office. Complete instructions are on page one of the application and a checklist of required documents is on page two. A $50.00 application fee is required.
For your convenience, we have provided two versions of the application packet. An online form, which allows you to use Microsoft word to complete the application, or a pdf file which you can download and complete by hand. Use of the online form is preferred.
301 W. Main Street, Waynesboro, VA 22980 p. 540.942.6779 EDinfo@WaynesboroBusiness.com